The management of the Greek economic crisis raises some disturbing parallels with the aftermath of the Peloponnesian war. The war ended in 404BC, when the victorious Spartans imposed on Athens the rule of the Thirty Tyrants, who deprived the Athenians of most of their civil and democratic rights. The tyranny ended in a revolt after one year, when democracy was restored. A few decades later, the proud city states of Greece and Sparta were off the geopolitical map.
I fear something similar might happen if the eurozone were to impose austerity from the outside, as a quid pro quo for a possible bail-out, which may become necessary if the Greek government were to get into financial difficulty.
Read Full Article »
